Sears Tower stands tall, over 1,700 feet aloft, overlooking the west side of Chicago's downtown Loop. Clad in bronze-tinted glass and stainless aluminum, rising with determination yet elegance from the depths of its grand foundations to the tips of its massive spires, luring tourists in daze, housing a workforce of thousands, the Big Store represents an era in Chicago of optimism and opportunity that will not be forgotten.The building was first acquired in 1989 by Boston's AEW Capital Management for the sum of $800 million.
In late 1997, the landmark tower was sold for $804 million to Toronto-based TrizecHahn, a REIT (real estate investment trust) firm. Downtown property markets subsequently began to show signs of recovery, and Sears Tower was again becoming one of Chicago's most prestigious high-rise properties. In fact, to honor Sears Tower's principal structural engineer, an adjacent street was, following a ceremony in the building, dedicated "Fazlur R. Khan Way" on July 7, 1998 by the City of Chicago.As of 2009, Sears Tower remains the tallest skyscraper in the western hemisphere and the largest commercial-use office building (in rentable square footage) in the United States. It also maintains the title of the world's tallest steel-framed building.
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